Super large Superdry sale nets founder £50 million

By Nicola Furmston

The founder of the fashion chain Superdry has been forced to sell off shares to fund his divorce. Just under £50 million of shares were sold during February 2016, leaving the founder with 27% of the company founded by him in 1985 from a market stall in Cheltenham.

Long gone is the assumption that a court will not touch the goose that lays the golden egg. This elderly premise was blown out of the water in 2000 with the bringing of the principle of the yardstick of financial equality between spouses on divorce. Where possible this will be achieved without carving up company assets, but in cases of public companies that can facilitate and survive large share sales, shares may have to be sold to meet the requirement of a fair settlement.

Nicola Furmston is a solicitor and head of the Family team at Barker Gotelee.

Family Solicitors in Ipswich – for more information on our range of legal services, please call the team on 01473 611211 or email [email protected]